AirFlow Networks Closes $8 Million Funding Round, Names New CEO; Bay Partners Leads Funding Round; Bob Machlin, ex-Cascade & Ascend, Joins as President and CEO.Business Editors/High-Tech Writers SUNNYVALE, Calif.--(BUSINESS WIRE)--April 22, 2003 AirFlow Networks today announced that it has closed its initial round of funding and that Bob Machlin has joined the company as president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . AirFlow, which was founded in January 2002 on approximately $2 million in seed funding Seed funding is investing capital to begin a new project, so that it has enough funds to sustain itself for a period of development until it reaches either a state where it is able to continue funding itself, or has created something in value so that it is worthy of future rounds , worked with Bay Partners to complete its initial round, which brings total company funding to $8 million. Bob Machlin, a 20-year veteran of the telecommunications industry with several successes to his credit, has joined AirFlow to launch the company and its initial product offering and lead the company's strategic direction in the wireless LAN A local area network that transmits over the air typically in the 2.4 GHz or 5 GHz unlicensed frequency band. It does not require line of sight between sender and receiver. Wireless base stations (access points) are wired to an Ethernet network and transmit a radio frequency over an area market. "There are many startups in the wireless LAN space, but AirFlow Networks has developed unique technology that clearly differentiates itself," said Chris Noble, general partner at Bay Partners. "We believe that AirFlow's solution offers enormous savings that will be extremely compelling to business customers." AirFlow Networks is developing a new wireless LAN architecture that virtually eliminates the deployment, management, security, and complexity issues that have impeded the adoption of WLAN See wireless LAN. WLAN - wireless local area network technology in enterprise networks. Rather than masking the underlying complexity of traditional WLAN technology, AirFlow's approach is far simpler, delivers higher and more uniform performance throughout the enterprise, and is far less costly to deploy. AirFlow's first products are slated for launch in the second half of 2003. Prior to AirFlow, Machlin was President & CEO of Catena ca·te·na n. pl. ca·te·nae or ca·te·nas A closely linked series, especially of excerpted writings or commentaries. [Latin cat Networks, a DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary remote access telecommunications manufacturer, and was previously vice president of worldwide marketing for Ascend Communications through its $24 billion acquisition by Lucent Technologies in 1999. Prior to Ascend, he was vice president of worldwide marketing for Cascade Communications, the worldwide market leader in Frame Relay and ATM for service provider networks. He has also held senior management positions with Coral Networks, Amnet and Motorola Codex codex Manuscript book, especially of Scripture, early literature, or ancient mythological or historical annals. The earliest type of manuscript in the form of a modern book (i.e. . Bob holds a BS in Mechanical Engineering from Tufts University and an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from Harvard. "There are three things I look for when evaluating the potential of any startup -- market, team and technology," Machlin said. "Obviously the 802.11 WLAN market is the bright spot in the telecommunications market. And upon careful due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. of the market challenges for `dot 11' in the enterprise, it was clear that AirFlow technical team led by Harry Bims, had the depth and strength to address this large market opportunity. The technology being developed has the potential to re-architect how enterprise WLANs are being built and deployed, yielding enormous savings to the customer." About AirFlow Networks AirFlow Networks is developing innovative wireless LAN solutions that eliminate deployment and management issues while fully securing the network against unauthorized access. The simplicity of AirFlow's solution allows enterprises to scale their wireless LAN implementations effortlessly at significantly lower costs than with other products on the market today. AirFlow solutions incorporate seven patent-pending innovations and are fully compliant with industry standards. AirFlow is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. based in Sunnyvale, California. For more information, visit the company web site at www.airflownetworks.com. |
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